The Reformation in Economics : A Deconstruction and Reconstruction of Economic Theory

This book carves the beginnings of a new path in the arguably weary discipline of economics. It combines a variety of perspectives – from the history of ideas to epistemology – in order to try to understand what has gone so wrong with economics and articulate a coherent way forward. This is undertaken through a dual path of deconstruction and reconstruction. Mainstream economics is broken down into many of its key component parts and the history of each of these parts is scrutinized closely. When the flaws are thoroughly understood the author then begins the task of reconstruction. What emerges is not a ‘Grand Unified Theory of Everything’, but rather a provisional map outlining a new terrain for economists to explore. __The Reformation in Economics__ is written in a lively and engaging style that aims less at the formalization of dogma and more at the exploration of ideas. This truly groundbreaking work invites readers to rethink their current understanding of economics as a discipline and is particularly relevant for those interested in economic pluralism and alternative economics. Front Matter....Pages i-xv Introduction....Pages 1-12 Front Matter....Pages 13-13 Economics: Ideology or Rationalistic Inquiry?....Pages 15-41 The Limiting Principle: A Short History of Ideology in Twentieth-Century Economics....Pages 43-70 Deconstructing Marginalist Microeconomics....Pages 71-93 Methodology, Modelling and Bias....Pages 95-123 Front Matter....Pages 125-125 Differing Conceptions of Equilibrium....Pages 127-144 Theories of Money and Prices....Pages 145-189 Profits, Prices, Distribution and Demand....Pages 191-220 Finance and Investment....Pages 221-277 Front Matter....Pages 279-279 Uncertainty and Probability....Pages 281-321 Non-Dogmatic Approaches to the Economics of Trade....Pages 323-333 Conclusion....Pages 335-340 Back Matter....Pages 341-368